Business
Fraud victims are being failed by justice system, warn charities
Dan WhitworthStockton-on-Tees
BBCVictims of fraud are being failed by the criminal justice system, charities are warning, as new analysis suggests only a fraction of reports result in a prosecution.
There were 1.2 million recorded cases of fraud in England and Wales in the 12 months to June, data from the National Fraud Intelligence Bureau shows.
But in the same time frame fewer than 13,000 cases were prosecuted, Ministry of Justice figures show.
Wayne Stevens, the national lead for fraud at charity Victim Support, said: “Our experience is that victims get a pretty poor deal from the criminal justice system as a whole.” The Home Office said it would publish “an ambitious fraud strategy in the New Year.”
Joan Holdaway, 85, shared her experience as part of the BBC’s Scam Safe Week from 22 to 28 November.
She had £1,000 stolen after being bombarded with phonecalls from fraudsters using photos of celebrities to promote their investment scam online.
“It was very upsetting,” said Ms Holdaway. “All I kept thinking about was how I was going to eke out the money that I’d still got. Then I kept thinking ‘I’m not going to get this back, I know I’m not.'”
She contacted the UK’s national reporting centre for fraud and cybercrime, Action Fraud, which put her in touch with Cleveland Police. Officers referred her to the Victim Care and Advice Service which helped her to be reimbursed by her bank under fraud rules introduced just over a year ago.
Known as the mandatory reimbursement requirement it obliges banks to refund most victims of push payment fraud – when victims are tricked and manipulated into transferring money to criminals themselves.
No one has been prosecuted in Ms Holdaway’s case and she told the BBC the emotional and mental impact had been tremendous.
“It’s made me very, very suspicious. You just cannot sleep properly and it’s just on your mind all the time. All I was doing was avoiding ever speaking to anyone again.
“I don’t think you ever get over it really… I think it stays with you… and you wonder anybody that you don’t know, are they who they say they are? It’s really dreadful.”
Mr Stevens said Victim Support was concerned people were not taken seriously when they report fraud to the bank or police.
“If the fraud has an international dimension the fraud often isn’t investigated,” he said.
“Until recently victims often didn’t get reimbursed the money that was lost to criminals.”
He said Victim Support was calling for improved campaigns to raise public awareness about the real risks of fraud. It also called for greater cooperation between banks and social media companies where fraud can take place.
UK Finance, which represents the banking industry, said: “Protecting customers is a top priority and banks invest billions in advanced systems to help detect and stop fraud happening in the first place.”
The Home Office said in a statement fraud was “a serious and damaging crime that can affect anyone, at any time, and we are determined to bring those responsible to justice”.
A spokesperson added: “In the new year we will publish an ambitious Fraud Strategy, which will reduce fraud, target offenders and protect victims.”
One charity in Stockton-on-Tees is on the front line in the fight against fraud offering help, support and advice for thousands of victims every year.
Dave Mead helps run the Victim Care and Advice Service, VCAS.
“A big, big chunk of our work and some of our most challenging work is fraud,” he said. “The figures are eye-watering. We’re contacting between 500 to 800 victims of fraud every month.
“The vast majority of victims don’t report fraud [and] we find some. But we’ve got to get into the communities through elderly groups, faith groups, youth groups.
“We’ve got to raise the conversation.”
Vicky Beaumont is an advice and support worker for VCAS.
“To be honest, even though I help people and speak to people day in day out, it’s still hard to see them [victims] relive that emotion.
“[But] it’s so rewarding, it’s such a good job to do to be able to support people like that and get great results for them. I would do this all day everyday.”
BBC’s Scam Safe Week content across BBC TV, Radio, iPlayer, Sounds and Online from 22 to 28 November 2025
The Indian government has proposed the Income-tax Rules 2026, making PAN cards mandatory for select high-value transactions. Replacing the 1962 rules, these changes aim to simplify and bring transparency to the tax system. After considering suggestions, the rules are expected to be finalized and implemented by April 1, 2026.
Here’s a detailed look about how PAN cards are used in various financial transactions.
Immovable Property Transactions: PAN will be required for property transactions exceeding Rs 20 lakh, which is up from Rs 10 lakh. It will include purchase, sale, gift, or joint development agreements.
Motor Vehicles Purchase: PAN is now required for motor vehicle purchases exceeding Rs 5 lakh, including two-wheelers that have been exempted so far. Additionally, those who buy premium bikes or expensive cars will need to quote PAN. Meanwhile, tractors are still excluded.
Cash Deposits And Withdrawals: PAN will be required for aggregate cash deposits or withdrawals exceeding Rs 10 lakh in a financial year. As per the existing rules, it is required for cash deposits of more than Rs 50,000 in a day at a bank or post office.
Hotel And Restaurant Payments: It will be required for cash payments exceeding Rs 1 lakh, which is up from Rs 50,000.
Insurances: PAN will be required to initiate account-based relationship with insurance companies, irrespective of the premium account.
Business
Himadri Speciality Starts Commercial Operations Of 70,000 TPA Carbon Black Line; Details Here
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With the brownfield expansion, the company’s total carbon black capacity has risen to 2,50,000 TPA.
Shares of Himadri Speciality Chemical were trading 0.70% higher at Rs 491.5 apiece on the NSE on Wednesday.
Himadri Speciality Chemical Ltd has commenced commercial operations of its newly commissioned 70,000 tonnes per annum (TPA) speciality carbon black line at its Mahistikry manufacturing facility in Hooghly, West Bengal, the company said on Tuesday (February 24).
With the brownfield expansion, the company’s total carbon black capacity has risen to 2,50,000 TPA. Of this, 1,30,000 TPA comprises speciality carbon black capacity at the Mahistikry site, making it the world’s largest single-location speciality carbon black manufacturing facility.
The expansion bolsters Himadri’s speciality portfolio and strengthens its ability to cater to high-value, performance-driven applications across plastics, inks, paints, coatings and other niche segments.
According to the company, the project integrates advanced process technologies, modern quality control systems, energy-efficient operations and scalable infrastructure to ensure consistent production of premium grades for global customers.
Anurag Choudhary, CMD and CEO, Himadri Speciality Chemical Ltd, said, “The commencement of commercial operations of our 70,000 MTPA (metric tonnes per annum) speciality carbon black line at Mahistikry marks the beginning of the next phase of growth in our advanced carbon materials journey. With this expansion, Mahistikry becomes the world’s largest single-location Speciality Carbon Black facility, with a capacity of 1,30,000 MTPA. This positions us strongly to capture rising global demand in premium, application-specific segments such as plastics, inks, paints, coatings, and other specialised industries.”
He added, “The newly-commissioned capacity is expected to contribute meaningfully to revenue growth and strengthen the Company’s margin profile over the medium term. As global demand continues to shift toward high-performance, customised carbon solutions, Himadri’s enhanced scale provides competitive advantages through operational efficiencies, supply reliability, faster market responsiveness, and improved product innovation capabilities.”
Shares of Himadri Speciality Chemical were trading 0.70% higher at Rs 491.5 apiece on the NSE on Wednesday.
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Check JEE Mains Result 2026 Link Here
February 25, 2026, 11:25 IST
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Angel One sets Feb 26 as record date for 1:10 stock split. Shareholders will get 10 shares for each held.
Angel One Stock Split 2026
Angel One Stock Split Record Date: Domestic brokerage firm Angel One has fixed February 26 as the record date for its previously approved 1:10 stock split, moving ahead with a proposal cleared by its Board last month.
The company had earlier informed stock exchanges on Jan. 15 that its Board of Directors approved the sub-division of equity shares in a 1:10 ratio.
Board Approval For Share Sub-Division
Under the approved proposal, each fully paid-up equity share with a face value of Rs 10 will be split into 10 fully paid-up equity shares with a face value of Re 1 each.
In its Jan. 15 stock exchange filing, the company stated that the Board had approved the sub-division of one existing equity share of face value Rs 10, fully paid-up, into 10 equity shares of face value Re 1 each, fully paid-up. The move is aimed at increasing the number of outstanding shares and improving liquidity in the counter.
Stock splits typically make shares more affordable for retail investors by reducing the market price per share, although the overall market capitalization of the company remains unchanged.
Feb 26 Fixed As Record Date
In a subsequent filing dated Feb. 18, Angel One confirmed that its executive committee has fixed Thursday, Feb. 26, as the record date to determine eligible shareholders for the stock split.
The record date serves as the cut-off to identify shareholders who will be entitled to receive the additional shares. Investors holding the stock on or before Feb. 26 will qualify for the sub-division benefit.
What The Stock Split Means For Investors
Shareholders will receive 10 equity shares for every one share currently held. While the face value per share will reduce from Rs 10 to Re 1, the total value of an investor’s holdings will remain unchanged, as the split does not alter ownership percentage or overall wealth.
Angel One Q3 FY26: Profit Dips Amid Higher Costs
For the quarter ended Dec. 31, 2025, Angel One reported a 4.5% year-on-year decline in consolidated profit after tax to Rs 269 crore, compared with Rs 281.5 crore in the same quarter last year.
However, total income rose 5.8% to Rs 1,338 crore from Rs 1,264 crore in Q3 FY25. Total expenses increased to Rs 964.2 crore from Rs 876.5 crore, primarily due to higher employee benefit costs, elevated ESOP expenses, and increased operating expenditure.
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Check JEE Mains Result 2026 Link Here
February 25, 2026, 07:20 IST
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Income Tax Draft Rules 2026: Key Changes On How And When Pan Card Will Be Required?
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